The Insolvency Law Reform Bill 2015 has been introduced into Parliament as part of the Australian Government’s strategy to modernise and strengthen the nation’s insolvency and corporate reorganisation framework.
The Bill comes at a time when the Government has announced major changes to insolvency law as part of its innovation package concerning areas like insolvent trading as well as default periods for personal bankruptcies. Those changes, however, appear only to be in the embryonic stage and seem to have overshadowed other important reforms which the Government has slipped into Parliament just last week.
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